Matilda developed a toothpaste using only natural ingredients, and she has been quite successful selling the product in health food stores and some grocery stores. She has recently developed a toothbrush using bamboo and natural components. Matilda is considering a ________, giving the toothbrush the same brand name as the toothpaste in order to create greater brand awareness.

Using the tactic of brand extension, a business develops a new product category under its well-known brand name. It facilitates the easy launch of new items, increases profits, lowers startup costs for new businesses, and satisfies client demands.

What benefits can brand expansion offer?

It doesn't necessarily have to be related to your business if you wish to grow your enterprise and develop a new good or service. Brands frequently use brand extension because it can: facilitate the launch of products in new categories; allow brands to satisfy the needs and wants of their customers; increase revenue for businesses; lower costs associated with starting and developing a new business; encourage customers to try new products from reputable brands; lessen risks for consumers because they can buy a variety of products from reputable brands, and facilitate the efficient use of promotion budgets.

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